Ensure you’re up to date on COVID EIDL payments

As COVID Economic Injury Disaster Loan (COVID EIDL) borrowers move deeper into the repayment period, many business owners are beginning to receive reminder letters from the U.S. Small Business Administration (SBA). These notices are part of SBA’s effort to ensure borrowers remain aware of their repayment responsibilities now that the original 30‑month deferment period has ended.

Unlike pandemic-era grant programs, COVID EIDLs were always structured as long-term, low-interest loans that must be repaid under the original promissory note. Borrowers should expect steady monthly payments across the remaining years of the 30-year term (though there is no penalty for early repayment).

The most important step is to act early and connect with your local SBA office to understand your options.

Business owners should watch for official documents from the SBA notifying borrowers of late payment and referral of the loan to the Treasury.

Primary contact
US SBA Minnesota District Office
330 2nd Avenue South, Suite 430, Minneapolis, Minnesota, 55401

Phone: 612-370-2324
Website: sba.gov/district/minnesota
Payments: 833-853-5638
Questions: CovidEIDLServicing@sba.gov

Essentials information for borrowers

• No forgiveness: Full repayment required. Check status and pay via MySBA Portal.

Payment help

• 50% reduction for six months if less than 90 days late, operating business.
• No other deferments are available.

Late payments

• 120 days: Treasury offsets (taxes, benefits). Pay full overdue to reinstate.
• 180+ days: Treasury collections.